Ilitch Gaming Finalizes Acquisition of Remaining Interest in Ocean Casino Resort

Ilitch Gaming today announced that an affiliate has completed the acquisition of the remaining 50% ownership interest in Ocean Casino Resort in Atlantic City, New Jersey. The transaction was first announced in June and expands Ilitch Gaming’s national gaming, hospitality, and entertainment portfolio.

Since the initial 50% ownership interest was acquired in 2021, Ilitch Gaming’s team has worked closely with Ocean’s leadership to build a culture where colleagues can thrive, make substantial investments in the guest experience, strengthen operating performance, and position the resort for long-term growth.

"Ocean Casino Resort has become an exceptional resort destination through the dedication of our talented colleagues, sustained investment in the property, and a commitment to the guest experience," said John Policicchio, Chief Executive Officer and Chief Development Officer of Ilitch Gaming. "Atlantic City remains one of the country’s most important gaming and hospitality markets, and achieving full ownership of Ocean represents an important milestone. We look forward to working with our Ocean colleagues to build on the momentum they have created."

Spanning over 20 beachfront acres along the Atlantic City Boardwalk, Ocean Casino Resort features 1,860 renovated guest rooms and suites, a 135,000-square-foot casino floor, a 4,500-seat entertainment venue, and more than 160,000 square feet of meeting and convention space. The resort also offers award-winning dining from acclaimed restaurateurs Stephen Starr and José Garces, luxury wellness experiences at Exhale Spa + Bathhouse, and premier nightlife at HQ2 Beachclub and Nightclub.

The transaction follows Ilitch Companies’ formation of Ilitch Gaming in June as a dedicated platform to oversee the organization's gaming-related businesses and support future growth initiatives. Ilitch Gaming currently oversees MotorCity Casino Hotel in Detroit, Michigan, and will also oversee Ocean Casino Resort in Atlantic City, New Jersey, subject to regulatory approvals. Ilitch Gaming also announced an agreement in June for an affiliate to acquire Scarlet Pearl Casino Resort in D’Iberville, Mississippi, subject to regulatory approvals and customary closing conditions.

‍